Published: Fri, September 14, 2018
Money | By Ralph Mccoy

U.S. Invites China to Trade Talks as Tariffs Loom

U.S. Invites China to Trade Talks as Tariffs Loom

Asked if the Trump administration would like to have additional trade talks with China, Kudlow said: "If they come to the table in a serious way to generate some positive results, yes of course".

Stocks in Europe rose earlier as prospects for U.S.

Trump has already imposed 25-per cent customs duties on US$50 billion worth of Chinese goods, triggering a tit-for-tat response from Beijing.

Beijing on Thursday accepted Treasury Secretary Steven T. Mnuchin's invitation to a new round of trade talks before the next tranche of tariffs.

Sixty-four percent of companies that responded to the AmCham survey, which was conducted between August 29 and September 5, said the first round of tariffs that Trump slapped on $50 billion in Chinese imports this year have negatively affected their operations, while 63 percent said the same about the equal amount of duties Beijing imposed in retaliation.

The U.S. -China Business Council (USCBC), a nonpartisan non-profit representing around 200 American companies, told Observer that, in recent weeks, the council has been hearing from U.S. companies about delays and challenges getting licensing approvals in China. It was unclear whether any U.S.

Even Mr. Scott said the tariffs have failed to accomplish Mr. Trump's stated goal of forcing better trade deals, notably with China, and reducing the USA trade deficit.

"If nearly a half of American companies anticipate a strong negative impact from the next round of USA tariffs, then the US administration will be hurting the companies it should be helping", he said.

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News of the invite comes as it emerged Thursday that U.S. firms in China are beginning to feel the pinch of tariffs already imposed on the Asian giant.

US President Trump said on Twitter on Thursday that the United States holds the upper hand in talks. A similar amount said they were delaying investment decisions because of the trade tensions.

"The U.S. administration runs the risk of a downward spiral of attack and counterattack, benefiting no one", William Zarit said in the statement.

"This survey affirms our concerns: tariffs are already negatively impacting USA companies and the imposition of a proposed $200-billion tranche will bring a lot more pain", said Eric Zheng, chairman of AmCham Shanghai. "China trade war could last at least 10 years", reports Taiwan Business TOPICS.

The survey released Thursday by the European Union Chamber of Commerce in China polled almost 200 European firms doing business in China and found 17% are delaying investment or expansion plans.

Another round of United States tariffs would bring the running total of targeted Chinese products to $250 billion, and is poised to affect consumers more than the levies already enacted.

The White House has sought to pressure Beijing to reduce its trade surplus with America and protect intellectual property rights of USA companies, which it says are abused in China.

About 30% of firms said they were shifting parts of their supply chains away from China and the United States to buy components from other places.

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